16 Page No ACIT vs. M/s. Shirani Motors Pvt. Ltd. and Ors. (a) Makhija Construction Company v. Asst. CIT

ACIT, Ratlam vs. M/S Shirani Automotives Pvt. Ltd, Ratlam Mp

Bench: Shri Vijay Pal Rao & Shri B.M. Biyaniassessment Year: 2014-15 Acit, M/S. Shirani Automotive Ratlam P. Ltd. बनाम/ 29, Shirani Pura, Vs. Ratlam (Appellant / Revenue) (Respondent / Assessee) Pan: Aancs 1007 M Revenue By Shri P.K. Mishra, Cit-Dr Assessee By None Date Of Hearing 02.03.2023 Date Of Pronouncement 31.03.2023

…be invoked unless the assessee itself is the shareholder of the company who was lending money to it. Further reliance was placed on following decisions of ITAT, Indore: (a) Makhija Construction Company vs. Asst. CIT (2011) 18 ITJ 783 (Trib.- Indore): (2012) 49 SOT 27: Assessee firm’s partner was holding 69% shares in a closely held company-Loan advanced by closely held company to assessee-firm-AO treated the loan as deemed dividend in hands of assessee-firm-HELD- Dividend is taxable in hands of shareholder being registered and beneficial shareholder-Dividend is not taxable in hands of assessee as assessee-firm…

ACIT, Ratlam vs. M/S Sagar Automobiles Pvt. Ltd, Ratlam

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri B.M. Biyani (Accountant Member)

…cisions of Jurisdictional Tribunal orders as follows: 4 I.TA Nos. 553, 554 & 569/IND/2018 A.Y. 2014-15 & 2015-16 Page No ACIT vs. M/s. Shirani Motors Pvt. Ltd. and Ors. (a) Makhija Construction Company vs. Asst. CIT (2011) 18 ITJ 783 (Trib.- Indore): (2012) 49 SOT 27 Assessee firm’s partner was holding 69% shares in a closely held company-Loan advanced by closely held company to assessee-firm- AO treated the loan as deemed dividend in hands of assessee-firm- HELD-Dividend is taxable in hands of shareholder being registered and beneficial shareholder-Dividend is not taxable in hands of assessee as assessee-firm…

ACIT, Ratlam vs. M/S Shirani Motors Pvt. Ltd., Ratlam (Mp)

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri B.M. Biyani (Accountant Member)

…cisions of Jurisdictional Tribunal orders as follows: 4 I.TA Nos. 553, 554 & 569/IND/2018 A.Y. 2014-15 & 2015-16 Page No ACIT vs. M/s. Shirani Motors Pvt. Ltd. and Ors. (a) Makhija Construction Company vs. Asst. CIT (2011) 18 ITJ 783 (Trib.- Indore): (2012) 49 SOT 27 Assessee firm’s partner was holding 69% shares in a closely held company-Loan advanced by closely held company to assessee-firm- AO treated the loan as deemed dividend in hands of assessee-firm- HELD-Dividend is taxable in hands of shareholder being registered and beneficial shareholder-Dividend is not taxable in hands of assessee as assessee-firm…

ACIT, Ratlam vs. M/S Shirani Motors Pvt. Ltd., Ratlam (Mp)

In the result, the appeal filed by the Revenue in ITA No

Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri B.M. Biyani (Accountant Member)

…cisions of Jurisdictional Tribunal orders as follows: 4 I.TA Nos. 553, 554 & 569/IND/2018 A.Y. 2014-15 & 2015-16 Page No ACIT vs. M/s. Shirani Motors Pvt. Ltd. and Ors. (a) Makhija Construction Company vs. Asst. CIT (2011) 18 ITJ 783 (Trib.- Indore): (2012) 49 SOT 27 Assessee firm’s partner was holding 69% shares in a closely held company-Loan advanced by closely held company to assessee-firm- AO treated the loan as deemed dividend in hands of assessee-firm- HELD-Dividend is taxable in hands of shareholder being registered and beneficial shareholder-Dividend is not taxable in hands of assessee as assessee-firm…